However, IL landlord/tenant laws are tough and are worth taking a deep dive into if you are going to investLawton, OK - Good opportunity for sure as many mid-American towns like this are prime for investors.

Finding borrowers won't be an issue, so I wouldn't worry about that piece, just making sure you have an agreement you are comfortable with and borrowers and properties you are comfortable with.

Also, make sure you know what the local laws are.

There are some teeth to HICPA since it works in tandem with the Unfair Trade Practices and Consumer Protection Law ("UTPCPL").

Not having them can create issues when selling later.Over-improving for the Neighborhood – Be mindful of your area’s home values so you don’t invest more than you can recoup.Ignoring Structural & Mechanical Issues – While cosmetic updates are fun, addressing foundation, plumbing, electrical, and HVAC systems first will save headaches down the road.For the best return on investment, focus on:Kitchen & Bathrooms – These are the biggest value-adds for a home.

The only issue is the interest rate is 7.125%.

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Sometimes, unseen issues (like major repairs) end up costing more than the discount you negotiated.Final Thoughts•If there are no major rental restrictions, and the numbers work based on rental comps, this could be a great first investment.

An attorney that only does litigation or maritime law, not so good.

You have to pay fees, but you'll have a professional handling issues instead of bleeding money trying to figure it out for yourself, then you have your time free to pursue other things.